SSM to divest Bromma Boardwalk project to Niam

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SSM Holding AB (publ) and Niam have agreed to divest SSM’s Bromma Boardwalk cooperative housing project to Niam V SIC Bostad Holding AB. The divestment follows the decision of the Swedish Land and Environment Court on December 14, 2018 to revoke the city plan for Bromma Boardwalk, leading SSM to cancel plans to develop 268 cooperative apartments on the property.  The transaction will have an impact of about -15.0 MSEK on SSM’s Q3 results at the same time as it will have a positive effect of about 25.0 MSEK on the company’s cash flow in Q4 2019.
SSM Holding AB (publ) and Niam have agreed to

Source: SSM to divest Bromma Boardwalk project to Niam

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